HomeMy WebLinkAboutr10279appropriationslimitRESOLUTION NO . 10279 (2011 Series )
A RESOLUTION OF THE CITY OF SAN LUIS OBISPO ADOPTING TH E
APPROPRIATIONS LIMIT FOR 2011-1 2
WHEREAS,the voters approved the Gann Spending-Limitation Initiative on November 6 ,
1979 and Proposition 111 on June 5, 1990, which establish and define annual appropriation limit s
on state and local government agencies ; and
WHEREAS,regulations require that the governing body of each local agency establish it s
appropriations limit and annual adjustment factors by resolution ; and
WHEREAS,the required calculations to determine the City's appropriations limit an d
estimated appropriations subject to limitation for 2011-12 have been performed by the Departmen t
of Finance & Information Technology and are available for public review .
NOW, THEREFORE, BE IT RESOLVED that the Council of the City of San Lui s
Obispo hereby adopts the City's appropriations limit and annual adjustment factors for 2011-12 a s
follows :
Appropriations Limit : 2010-11
$47,720,00 0
Cost of Living Factor : Percent change in California per capita income
2.51 %
Population Factor : County Population Growth
0.83 %
Compound Percentage Factor (multiplicative not additive)
3 .36 %
Appropriations Limit : 2011-12 $49,323,40 0
Upon motion of Council Member Carter, seconded by Vice Mayor John Ashbaugh, an d
on the following vote :
AYES :
Council Member Carpenter, Carter and Smith, Vice Mayor Ashbaugh an d
Mayor Mar x
NOES :
None
ABSENT : None
R 10279
Resolution No . 10279 (2011 Series )
Page 2
The foregoing resolution was adopted 21 St day of June 2011 .
Vice Mor John Ashbaugh
ATTEST :
Elaina Cano
City Clerk
APPROVED AS TO FORM :
istine Dietrick
City Attorney
R 10279